Company’s Indian business registers growth even as global sales dip
The India business arm of Godrej Consumer Products (GCPL) has registered five per cent growth in the first quarter of fiscal 2021 even though its consolidated sales have declined by one per cent year-on-year. The growth was due to the robust demand for its household insecticides and hygiene products.
The second quarter was tough due to the challenges the company faced with lockdowns across geographies and the ensuing supply side issues. Observing rising demand in household insecticides and hygiene, the company has decided to focus on their products in these categories.
GCPL chairperson and managing director Nisaba Godrej said that the company has several new launches, strongly price-enabled, across geographies in the pipeline and will be doubling down on digitization and platforms like e-commerce. Category-wise, insecticides and hygiene grew by 27 per cent and 15 per cent, respectively.
The company posted a 3.1 per cent fall year-on-year in its June quarter consolidated net profit to Rs 395 crore compared to Rs 407.6 crore in the same period last year. Revenue of the company was down 12.5 per cent to Rs 2,327.3 crore versus Rs 2,348.8 crore in Q1 FY20.
